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Recent population growth

The population of Crown and Baptist Streets village was estimated by id Forecast to be 22,170 in 2014. Being an established residential area, population growth in the village since 2006 has been relatively slow, as shown in Chart 2.

As shown in Figure 3, the most densely populated sections of the village are along the eastern boundary opposite Moore Park, between Devonshire and Cleveland streets, and between Albion and Campbell streets.

Chart 2 – Estimated Resident Population

Figure 3 – Population Density, 2011

Demographics

The area hosts diverse and distinctive communities, with short-term renters living alongside long-time residents, a strong gay and lesbian community and public housing tenants.

Table 1 summarises some of the key demographic characteristics of village residents, from which the following key points are noted:

Median household income sits between the City of Sydney local area average and the broader Metro Sydney area.

Average age is reasonably high compared to City of Sydney local area and Metro Sydney benchmarks.

Average household size is small, reflecting the inner city location.

The village has a high proportion of renters at 63%, and of this a significant proportion (20%) are renters of public housing.

Majority of households in this village are single households followed by couples with no kids.

Residents tend to have white-collar jobs and a significant amount are tertiary educated – normal for the inner city but high in the context of the Metro Sydney area

Almost half of the village residents were born overseas

Chart 3 shows the household income distribution for Crown and Baptist Streets village and compares this to the distribution across the entire City of Sydney local area and the greater Metro Sydney region. Reflecting the great diversity of residents within the village, it shows that the village has above-average proportions of households falling into the highest and the lowest brackets. This broad mix of incomes highlights the diversity of residents within the village.

Figure 4 shows average household incomes by block across the village. It reveals higher average household incomes along the eastern boundary opposite Moore Park as well as in the northern tip closest to the city, a suitable location for professionals. Conversely, there is a cluster of households with low average incomes in the south-west quadrant of the village, where the majority of public housing is located.

Chart 3 – Household Income Distribution, 2011

Figure 4 – Average Household Income, 2011

Table 1 – Key Demographic Indicators, 2011

Crown & Baptist Streets

City of Sydney

Metro Sydney

Median Household Income

$79,257

$84,941

$75,451

Av. Age

39.4

36.1

37.1

Av. Household Size

1.8

1.9

2.7

% White Collar Workers

87%

87%

74%

% Born Overseas

45%

49%

36%

Education

Bachelor Degree or Higher*

47%

48%

27%

Studying at University/TAFE

12%

17%

8%

Housing Status

Owner

13%

14%

31%

Purchaser

23%

24%

36%

Renter - Public

20%

10%

5%

Renter - Private

43%

51%

27%

Household Structure

Couples with No Kids

27%

28%

24%

Families (inc single parent)

15%

18%

49%

Singles

43%

40%

23%

Groups

15%

14%

4%

Source: Census of Population and Housing, 2011 – ABS

Resident retail spending

Chart 4 illustrates the estimated retail spending per capita for village residents in 2012 based on Marketinfo modelling. The chart reveals that residents spend an above-average amount on most retail categories. The difference is most noticeable in the food retail category, which includes groceries and other supermarket-type goods. Spending is also high in the food catering category, which includes all restaurant and take-away food. This is catered for by the thriving café and restaurant scene in this village.

The residents of Crown and Baptist Street village also have a higher retail spend per capita on leisure and services. These types of spending patterns are typical of inner city households, which tend more towards singles and couples without kids, who have more disposable income to spend on these types of goods.

In addition to the high level of retail spending per capita, the greater population density within the village means that it is able to support substantially more retail space than a suburban location due to the fact that the local spending market is significantly larger.

Chart 4 – Resident Retail Spending Per Capita, 2012

What does this mean for my business?

The local resident population is an important consideration for many local business owners. For many retailers, local residents are a core part of their market and a key source of repeat business. For both retail and non-retail businesses, local residents may comprise a significant portion of their workforce. Developing a profile of potential customers (or workforce) can assist in selecting an optimal location and/or developing an effective business plan.

Residents within Crown and Baptist Streets village are, on average, well-educated professionals with high incomes, living as singles or couples. However the averages conceal significant diversity within the village the owners of a terrace house on Crown Street are very different to residents of public housing in East Redfern. This diversity of residents should support an equally diverse group of businesses, and opportunities may exist at both the value and high ends of the spectrum.

Disclaimer

This information has been compiled from various sources. The publisher and contributors accept no responsibility for any injury, loss or damage arising from the use, error or omissions therein. While all care is taken to ensure a high degree of accuracy, users are invited to notify the City of Sydney of any discrepancies. No part of this information, including maps or data, may be reproduced without written permission.